ASX Announcement - National hybrid Tier 1 Roadshow

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

National Australia Bank Limited today announced a European roadshow will be conducted next week for wholesale investors in a proposed Euro-denominated hybrid Tier 1 capital transaction. 

The terms of the proposed issue are currently contemplated to be similar, subject to market conditions, to the Australian domestic hybrid Tier 1 capital issue (the National Capital Instruments) announced on 12 September 2006.

This proposed issue of hybrid Tier 1 capital is consistent with the National Australia Bank's objective of efficient capital management and is part of National Australia Bank's ongoing capital management strategy.  The proceeds from the hybrid Tier 1 capital issue will be used for general business purposes.

For further information:

Brandon Phillips
Group Manager, External Relations
T  03 8641 3857
M  0419 369 058
 
Hany Messieh
Head of Investor Relations
T  03 8641 2312
M  0414 446 876

This statement does not constitute an offer of any securities for sale.  The securities offered will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.